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Great British Energy plans to invest £26 billion combining public and private funds to add 15 GW clean capacity and create over 10,000 jobs by 2030.
- Recently, Great British Energy released a five-year national plan, tasked by the Starmer government to add 15 GW of clean energy and income-generating assets by 2030.
- Backed by public and private funds, the plan relies on over $11 billion from the UK government and up to 15 billion pounds in private capital to cut carbon dioxide emissions.
- GBE will operate as a developer and equity investor to give the public a lasting stake, and the company said the plan would directly support more than 10,000 jobs, including in areas historically dependent on oil & gas.
- Financially, the strategy calls for reinvesting asset returns from publicly owned assets into new capacity, jobs and opportunities across UK communities, with income and profitability targeted by 2030.
- Critics warn the loss of oil and gas jobs remains contentious as earlier this year the Scottish Affairs Committee found low-carbon job creation lagged replacement, while the government blames international gas prices amid rising British energy bills.
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